BMW reaffirms US$1 billion investment commitment to Mexico
Alexander W. Wehr, President and CEO of BMW Group Mexico, Latin America and the Caribbean, has reiterated the opening of its new plant in San Luis Potosí in 2019. He said that “at the end of the day, in an environment affected by the exchange rate, by any Free Trade Agreement, the road ahead is clear and focused on Mexico”. He added that if the Mexican peso depreciates further and if tariffs on international trade rise, there could be some adjustments in the management of the business from Mexico but assured, “we are not worried and we are optimistic”. He acknowledged that investments in the distribution network in Mexico have been very important during the last 18 months, with around US$100 million in favor of servicing clients, a reason why one of the tasks is to maintain the responsibility of the agencies. He remarked that one of the main achievements that was consolidated this year was the laying of the foundation stone for the plant in San Luis Potosí, where the Series 3 model will be manufactured. It will be one of BMW’s largest plants outside Germany, as the expansion of the group’s production network has always pursued the goal of supporting the growth of global markets, he added.